Asian session: The dollar fell against most of its major counterparts

04:30 JPY Industrial Production (MoM) November -2.6% -2.6% -2.7%

04:30 JPY Industrial Production (YoY) November -4.0% -4.0% -4.2%

The dollar fell against most of its major counterparts before U.S. data today forecast to show industrial production rose and confidence among homebuilders increased, reducing demand for safer assets.

The euro gained versus the greenback for a second day after a hedge-fund manager on a creditors’ committee for Greece said yesterday the country is nearing a deal on its debt. Greek Prime Minister Lucas Papademos will resume negotiations with private bondholders today. Australia’s dollar traded near the highest level in 11 weeks before a report tomorrow that may show the country’s employers added jobs in December. The Australian dollar advanced for a second day before government data forecast to show the number of people employed in Australia rose by 10,000 last month after a decline of 6,300 in November. The jobless rate is projected to remain unchanged at 5.3 percent, according to the median of economists’ estimates in a Bloomberg survey.

EUR/USD: during the Asian session the pair has grown on a floor of a figure.

GBP/USD: during the Asian session the pair grew.

USD/JPY: during the Asian session the pair fell.

European events for Wednesday start at 0830GMT when ECB Governing Council member Jens Weidmann is due to attend a meeting of the German government Cabinet, in Berlin. UK data includes the labour market data at 0930GMT. Unemployment is on the rise in the UK. US data starts at 1200GMT with the weekly MBA Weekly Mortgage Applications, which is followed by the weekly ICSC-Goldman Weekly mall sales at 1245GMT and then PPI data at 1330GMT. At 1400GMT, US TICS data is due, followed at 1415GMT by US industrial production, which is expected to rise 0.5% in December after falling 0.2% in November. At 1430GMT, Federal Reserve Governor Daniel Tarullo testifies to a House Financial Services Subcommittee on the Volcker Rule. The US NAHB Housing Market Index is then due at 1500GMT.